Definition:
The Home Office Furniture segment focuses on furniture found in the home that provide a comfortable and motivating work space. The purpose of home office furniture is to ensure a good working environment similar to that of a traditional office as working from home has become more popular in recent years. This segment includes objects such as swivel seats and office tables; however, furniture such as dining tables and chairs are not included. Consumer electronics and lamps & lighting are also excluded from this segment.
Structure:
The segment is divided into two subsegments:
Additional Information:
The Home Office Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Company Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
The Home Office Furniture market in Southern Europe is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: in the Home Office Furniture market in Southern Europe are shifting towards more functional and ergonomic designs. Customers are looking for furniture that can provide comfort and support during long hours of work. They are also seeking furniture that can accommodate multiple devices and technology, such as laptops, monitors, and printers. Additionally, customers are increasingly interested in sustainable and eco-friendly furniture options. These preferences are driving the demand for innovative and versatile home office furniture in the region.
Trends in the market: include the rise of remote work and flexible work arrangements. The covid-19 pandemic has accelerated the adoption of remote work across Southern Europe, leading to an increased demand for home office furniture. As more companies embrace remote work as a long-term solution, the need for dedicated home office spaces and furniture is expected to continue growing. Another trend in the market is the integration of smart technology into home office furniture. This includes features such as wireless charging, built-in usb ports, and adjustable height settings. These technological advancements enhance the functionality and convenience of home office furniture, further driving its popularity in the region.
Local special circumstances: in Southern Europe also contribute to the development of the Home Office Furniture market. Countries in this region, such as Italy and Spain, have a strong tradition of craftsmanship and design. This heritage translates into high-quality and aesthetically pleasing home office furniture options that appeal to customers. Additionally, Southern Europe has a large population of freelancers and self-employed individuals, who often require home office furniture to create a productive work environment. The presence of co-working spaces and shared offices in major cities also creates a demand for flexible and modular home office furniture solutions.
Underlying macroeconomic factors: such as economic growth and urbanization, play a significant role in the development of the Home Office Furniture market in Southern Europe. As the economy grows and incomes rise, more individuals are able to invest in home office furniture. Urbanization also contributes to the market growth, as people living in cities often have limited space and need compact and multifunctional furniture for their home offices. Furthermore, the increasing number of startups and small businesses in Southern Europe creates a demand for affordable and customizable home office furniture options. In conclusion, the Home Office Furniture market in Southern Europe is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards functional and ergonomic designs, the rise of remote work, the integration of smart technology, and the region's tradition of craftsmanship and design are all contributing to the market's expansion. Additionally, economic growth, urbanization, and the presence of startups and small businesses are driving the demand for home office furniture in Southern Europe.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights